Office MarketBeat: CBD Grade A office rental growth started to moderate in Q1 2024, reflecting cautious occupier sentiments amidst CapEx constraints and still-tight financing conditions. Some occupiers are opting for short term renewals although there were pockets of relocation activities.
Industrial MarketBeat: Industrial rental performance diverged across some property types in Q1 2024. Rents for prime logistics, high-tech and and city fringe business park rose, while suburban business park rents declined. Factory and warehouse rents were flat. Overall rental growth is expected to moderate this year.
Retail MarketBeat: Islandwide prime retail rents continued to ascend in 2023, underpinned by both demand-led and cost-push factors. While the overall prime retail rents are foreseen to edge up this year, the rental growth in Orchard is expected to consistently surpass and outperform other submarkets.* Data from Q4 2023
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